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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 155.82-1.3%Jan 23 9:30 AM EST
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To: dougjn who wrote (8082)2/6/1998 5:58:00 PM
From: moose  Read Replies (2) of 152472
 
Doug, it's nice to see someone else listened to the CC. Soundview lowered 98 estimates to $1.41 at 48 thats a P/E of 35. Now take out the first Q of 58 cents and you get 83 cents for the rest of the year. Without Q1, QCOM will have a P/E of over 40 and this is just based upon the developments over the last two weeks. I'm upset that QCOM warned so early in the Q. It was just 3 weeks ago that they said everything was just fine. Not only have they lost credibility with investors but they may have also invited a lawsuit. (Rememer SEG)

I think today's strength ( only down 8 ) is due to shorts adding new positions and not covering. I think we will break 45 next week and continue to head lower. I found the CC to be quite different from the spin CNBC put on it. Usually CNBC puts a negative bias on the stock but for some reason they left QCOM alone.
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